Forecasted Change in Real GDP
The Graph of the Week comes from the November 2008 NABEOutlook, and shows the quarterly forecast for real GDP change by the panel. From the survey:
The NABE panel dramatically trimmed growth expectations for both the remainder of this year and 2009. On a Q4/Q4 basis, real GDP is now predicted to increase just 0.2% in 2008, a full percentage point below the October forecast. The group predicts that GDP will fall at a 2.6% rate in the final quarter of this year and will decline again in the first quarter of next year, at a 1.3% pace. Expectations for GDP growth in 2009 were reduced sharply to just 0.7% from 2.2% last month.
NABE members can read the full survey here. A summary is available to the public.